Georgia Solar Tax Credits Spur Economic Growth

/PRNewswire/ -- With the signature of Governor Nathan Deal, Georgia's solar energy tax credit is increasing to $5 million annually in 2012, 2013 and 2014 from the current $2.5 million yearly limit. The new law, which the General Assembly approved last month, helps ensure that the vibrant solar energy industry in Georgia continues to thrive, creating jobs and new investment opportunities statewide.

Businesses are eligible to receive up to $500,000 in tax credits to offset the cost of installing solar photovoltaic (PV) electricity generating systems, and homeowners are eligible to receive up to $10,500 in tax credits for residential solar energy systems. The tax credits must be taken over four years. If the $5 million ceiling is reached in any year, eligible taxpayers on a waiting list will have priority over taxpayers that apply for the credits in subsequent years. The Georgia Department of Revenue will determine other administrative details about the tax credits.

Georgia Solar Energy Association (GSEA) Board Member and Advocacy & Education Committee Chairman Greg Chafee, head of the Energy Practice at Morris Manning & Martin, said Governor Deal's leadership made a crucial difference in creating the new solar investment opportunity.

"Thanks to support from Governor Deal, Senate Floor Leader Ronnie Chance (R-Peachtree City), and Representative David Knight, (R-Griffin) Chairman of the Special Committee on Small Business Development and Job Creation, a robust solar energy industry in Georgia will generate employment, improve and diversify our energy infrastructure, and bring the latest in technological innovation to the state," Chafee said.

Anthony Coker, Senior Director for Suniva, Inc., and Vice-Chairman of GSEA, said the increased solar tax credits will help Georgia compete in the economic development market with a meaningful ripple effect on the state's economy.

GSEA board member Sylvia Minton, senior vice president for Mage Solar, a German solar manufacturer with a production facility in Dublin, Ga., Board Member James Marlow, CEO of Radiance Solar, and GSEA State Program Director Joy Kramer attended the signing ceremony at the Georgia State Capitol.

In 2010, clean energy tax credits totaling almost $2 million were awarded to 47 solar PV projects and 90 solar water heating installations in Georgia. The tax credits helped to develop major new solar energy projects including:

* Choate Construction Company Headquarters Building, Atlanta, 74 KW capacity, designed and built by Empower Energy Technology, Atlanta, $575,000 pre-incentive value.
* White Oak Pastures, Bluffton, Ga., beef processing facility, 50,000-watt capacity, $326,000 pre-incentive value, designed and built by Hannah Solar, Atlanta.
* Persimmon Creek Vineyards, sustainable winery in Clayton, GA, solar array designed and built by Radiance Solar, Atlanta.


GSEA Chairman Doug Beebe said he is grateful that Governor Deal and legislative leaders recognize the growing contribution the solar industry is making to Georgia's economy.

"The increased availability of tax credits provides encouragement and support for our hard-working, solar manufacturers, installers, suppliers and consultants to help ensure that they continue to grow and flourish," Beebe said while also noting the upcoming June 24th Solar Summit at Georgia Tech Research Institute Conference Center.

-----

Community News You Can Use
Click to read MORE news:
www.GeorgiaFrontPage.com
Twitter: @gafrontpage & @TheGATable @HookedonHistory
www.ArtsAcrossGeorgia.com
Twitter: @artsacrossga, @softnblue, @RimbomboAAG @FayetteFP

Teetering Biodiesel Industry Awaits President Obama's Remarks on Job Creation in His State of the Union Address

/PRNewswire/ -- Tonight, President Barack Obama is scheduled to deliver his first State of the Union Address. Though the President is widely expected to highlight a host of new initiatives to create new "green collar" jobs in the speech, the failure of Congress to extend the existing biodiesel tax incentive has placed 23,000 existing jobs that are supported by the domestic biodiesel industry at risk.

Manning Feraci, the National Biodiesel Board's Vice President of Federal Affairs noted, "If Congress and the Administration are serious about creating green jobs, the first immediate step they should take is to extend the biodiesel tax incentive as soon as possible. Expiration of the biodiesel tax incentive on December 31, 2009 has devastated the industry, severely curtailed domestic biodiesel production, and placed 23,000 good-paying jobs in immediate jeopardy. Biodiesel companies have already started shedding employees, and this will continue at an accelerated pace unless Congress and the President act swiftly to reinstate this effective tax incentive."

Biodiesel is a diesel replacement fuel made from agricultural oils, fats and waste greases that meets a specific commercial fuel definition and specification. The fuel significantly reduces harmful emissions including greenhouse gas emissions compared to petroleum diesel fuel. The biodiesel tax incentive is structured in a manner that makes the fuel price competitive with diesel fuel in the marketplace. Thus, absent the tax incentive, biodiesel is significantly more expensive that petroleum diesel fuel. On December 31, 2009, Congress adjourned and allowed the biodiesel tax incentive to expire.

"If Congress and the Administration truly want to protect and promote green job creation, they should act immediately to extend the biodiesel tax incentive," concluded Feraci.

The National Biodiesel Board is the national trade association of the biodiesel industry and is the coordinating body for biodiesel research and development in the U.S. NBB's membership is comprised of state, national, and international feedstock and feedstock processor organizations, biodiesel producers, fuel marketers and distributors, and technology providers.

-----
www.fayettefrontpage.com
Fayette Front Page
www.georgiafrontpage.com
Georgia Front Page
Follow us on Twitter: @GAFrontPage